Geneos Wealth Management Inc. Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Geneos Wealth Management Inc. boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,237 shares of the medical equipment provider’s stock after purchasing an additional 152 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Align Technology were worth $4,013,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. DAVENPORT & Co LLC increased its holdings in shares of Align Technology by 2.1% in the 1st quarter. DAVENPORT & Co LLC now owns 117,022 shares of the medical equipment provider’s stock valued at $38,355,000 after acquiring an additional 2,351 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in Align Technology during the 1st quarter worth approximately $2,006,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Align Technology by 175.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 962 shares of the medical equipment provider’s stock worth $315,000 after buying an additional 613 shares during the last quarter. Whittier Trust Co. grew its stake in Align Technology by 17.6% during the 1st quarter. Whittier Trust Co. now owns 561 shares of the medical equipment provider’s stock worth $184,000 after buying an additional 84 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Align Technology by 14.4% during the 1st quarter. Jennison Associates LLC now owns 100,300 shares of the medical equipment provider’s stock worth $32,890,000 after buying an additional 12,601 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research reports. OTR Global restated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Robert W. Baird raised their price target on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. UBS Group increased their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Evercore ISI decreased their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and an average target price of $346.50.

Align Technology Stock Up 2.9 %

Shares of NASDAQ:ALGN traded up $7.17 during midday trading on Thursday, reaching $256.30. The company’s stock had a trading volume of 952,422 shares, compared to its average volume of 762,283. The firm has a market cap of $19.29 billion, a price-to-earnings ratio of 41.04, a price-to-earnings-growth ratio of 4.61 and a beta of 1.66. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The business has a 50 day moving average price of $257.42 and a 200 day moving average price of $282.81.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The firm had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Sell-side analysts anticipate that Align Technology, Inc. will post 7.86 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.